Scenario 22-2 Five Voters Must Choose from Among Four Options: W, X

question 24

Multiple Choice

Scenario 22-2
Five voters must choose from among four options: W, X, Y, or Z. Each voter's preferences are summarized in the table below. Options higher in the table are more preferred by the voter.

-Refer to Scenario 22-2.Which pairwise voting scheme would result in outcome Y?

• A)First, choose between W and Y.Second, voters choose between the winner of the first vote and X.Third, voters choose between the winner of the second vote and Z.
• B)First, choose between Z and Y.Second, voters choose between the winner of the first vote and X.Third, voters choose between the winner of the second vote and W.
• C)First, choose between X and Y.Second, voters choose between the winner of the first vote and Z.Third, voters choose between the winner of the second vote and W.
• D)First, choose between X and W.Second, voters choose between the winner of the first vote and Z.Third, voters choose between the winner of the second vote and Y.

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Definitions:

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB).

Amortized

In finance, to amortize a debt means to reduce or extinguish it by making regular payments over a period of time, effectively decreasing the principal amount along with interest.

Goodwill

An intangible asset that arises when a buyer acquires an existing business, representing the premium paid over the fair market value of the net identifiable assets of the business.

Borrowing Costs

Borrowing Costs are the interest and other costs that an entity incurs in connection with the borrowing of funds.